Food Prices Drop as Tinubu Orders FEC to Take Action

Prices of staple foods like rice, beans, and garri have started to decline in markets across Nigeria following President Bola Ahmed Tinubu’s directive to the Federal Executive Council (FEC) to tackle soaring food costs.

The Minister of State for Agriculture and Food Security, Senator Aliyu Sabi Abdullahi, revealed that Tinubu issued a “marching order” for immediate measures to ensure the safe and efficient transport of farm produce, a move aimed at slashing logistics costs that drive up food prices.

Recent data shows a significant drop in prices: a 50kg bag of rice now costs ₦85,000, down from ₦87,000, while the price of beans (Oloyin, 50kg) fell from ₦82,000 to ₦80,000. Similarly, garri (50kg yellow) dropped from ₦33,000 to ₦32,000, and tomatoes saw a massive 31.82% reduction, with a basket now priced at ₦75,000 instead of ₦110,000.

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This initiative is part of Tinubu’s broader vision for food sovereignty, focusing on affordability, accessibility, and sustainable agricultural practices. The government is also rolling out programs like the Farmer Soil Health Scheme and cooperative reforms to boost productivity and empower rural farmers. Abdullahi emphasized that these efforts aim to make food not just available but also affordable for all Nigerians.